(a) An important aspect of the International Accounting Standards Board's (IASB) Framework for the P reparation and Presentation of Financial Statements is that Materiality is a key concept in accounting because it helps accountants and auditors in deciding which figures need separate reporting and what is the maximum amountSubstance In some cases, the substance of such rights and obligations is clear from a contract's legal form But, in other cases, the terms of the contract, or of
Difference Between Operating Versus Financial Capital Lease Efm
